Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.14648 with take profit at 1.14746.
Bearish Preference:
Sell position is envisaged if price trades below 1.14262 with take profit at 1.14165.
Fundamentals:
No Major Fundamental
Comment: The Euro is continuing to suffer from the perception that the European Central Bank will not be tightening monetary policy until well after some of the other major central banks, including the US Federal Reserve and the Bank of England. Even though the markets long ago priced that in, last Wednesday’s steep fall in EUR/USD after a shocking set of US inflation data suggests that the slide in the pair is far from over.
Analysis: SCRUM Team